58,090 Shares in Bloom Energy Co. (NYSE:BE) Bought by Dark Forest Capital Management LP

Dark Forest Capital Management LP purchased a new stake in Bloom Energy Co. (NYSE:BE) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 58,090 shares of the company’s stock, valued at approximately $711,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Xponance Inc. boosted its stake in shares of Bloom Energy by 7.8% during the 2nd quarter. Xponance Inc. now owns 12,542 shares of the company’s stock worth $154,000 after acquiring an additional 903 shares in the last quarter. Millburn Ridgefield Corp boosted its position in Bloom Energy by 64.0% during the first quarter. Millburn Ridgefield Corp now owns 3,296 shares of the company’s stock worth $37,000 after purchasing an additional 1,286 shares in the last quarter. Steward Partners Investment Advisory LLC grew its holdings in Bloom Energy by 9.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 15,299 shares of the company’s stock valued at $226,000 after purchasing an additional 1,308 shares during the period. Arizona State Retirement System increased its position in shares of Bloom Energy by 2.7% in the second quarter. Arizona State Retirement System now owns 56,886 shares of the company’s stock valued at $696,000 after buying an additional 1,470 shares in the last quarter. Finally, Tocqueville Asset Management L.P. lifted its position in shares of Bloom Energy by 3.1% during the 1st quarter. Tocqueville Asset Management L.P. now owns 59,250 shares of the company’s stock valued at $666,000 after buying an additional 1,800 shares in the last quarter. 77.04% of the stock is owned by institutional investors and hedge funds.

Bloom Energy Stock Performance

Shares of Bloom Energy stock opened at $10.40 on Friday. The company has a debt-to-equity ratio of 3.43, a current ratio of 4.65 and a quick ratio of 3.33. The stock has a market capitalization of $2.37 billion, a price-to-earnings ratio of -7.70 and a beta of 2.69. The business has a 50-day moving average of $11.59 and a 200 day moving average of $12.13. Bloom Energy Co. has a 12 month low of $8.41 and a 12 month high of $18.14.

Bloom Energy (NYSE:BE) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.06) EPS for the quarter, meeting the consensus estimate of ($0.06). The company had revenue of $335.80 million during the quarter, compared to analysts’ expectations of $307.73 million. Bloom Energy had a negative net margin of 21.37% and a negative return on equity of 11.90%. The firm’s revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the company posted ($0.32) EPS. As a group, sell-side analysts forecast that Bloom Energy Co. will post -0.25 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BE. UBS Group dropped their target price on shares of Bloom Energy from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Bank of America boosted their price objective on Bloom Energy from $8.00 to $9.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 17th. BTIG Research raised their target price on Bloom Energy from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. Truist Financial lifted their price target on Bloom Energy from $12.00 to $13.00 and gave the stock a “hold” rating in a research note on Monday, August 12th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $15.00 price objective on shares of Bloom Energy in a report on Thursday, June 20th. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $15.88.

Insider Buying and Selling

In related news, insider Shawn Marie Soderberg sold 2,094 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $14.53, for a total transaction of $30,425.82. Following the completion of the transaction, the insider now owns 168,867 shares in the company, valued at $2,453,637.51. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 8.81% of the stock is owned by insiders.

Bloom Energy Company Profile

Bloom Energy Corporation designs, manufactures, sells, and installs solid-oxide fuel cell systems for on-site power generation in the United States and internationally. The company offers Bloom Energy Server, a solid oxide technology that converts fuel, such as natural gas, biogas, hydrogen, or a blend of these fuels into electricity through an electrochemical process without combustion.